Simon Wessely argues that responses to the outbreak of the coronavirus crisis are all reasonable responses to it / FT, 16 March 2020/. By definition, it could not be the case. We humans react to all kinds of crisis in both rational and irrational ways at the same time.
All players do the same. Governments and central banks put together huge packages to fend off the potential economic and financial threats coming out of the pandemic.
They also regard it as an opportunity to introduce strictly prohibited means into fiscal and monetary policies. Some of them are responsible and rational, others are irresponsible and irrational.
All in all, we are humans.
Re “This is not “panic”, it is a reasonable response to a crisis”
Governor Matolcsy, MNB, the Central Bank of Hungary
